RISMEDIA, July 29, 2010—The Advertising Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), announced the launch of a national public service advertising (PSA) campaign designed to encourage homeowners who are struggling with their monthly mortgage payments to learn about the Making Home Affordable Program.
While over one million homeowners have already received assistance from the program, the national campaign encourages other struggling homeowners who may be eligible for assistance to reach out for the help they need through free resources made available by the Federal Government. The PSAs direct homeowners to visit MakingHomeAffordable.gov or call 1-888-995-HOPE (4673) to see if they may be eligible for assistance to make their mortgage payments more affordable and to understand options they may have to avoid foreclosure.
Created pro bono by The Kaplan Thaler Group, a New York-based advertising agency, the new campaign is available in English and Spanish and features real homeowners from across the country who have benefited from the program.
“Even though the economy is getting stronger, many Americans are still facing the fear and uncertainty of losing their home to foreclosure,” said Treasury Secretary Tim Geithner. “The Administration’s loan modification programs have given more than a million responsible homeowners a chance to stay in their homes, and we want to do all we can to help make sure that struggling homeowners know about these free resources for help.”
“Many responsible borrowers continue to face challenges due to unemployment, negative equity or because of soaring utility payments,” said HUD Secretary Shaun Donovan. “These public service announcements will help us to reach at-risk borrowers now, while they are still current on their payments and eligible to receive help through the Making Home Affordable Program or our expanded options for Federal Housing Administration (FHA) refinancing.”
“We are proud to partner with the Treasury and HUD on this critical campaign to educate Americans about free resources available to help them prevent foreclosures,” said Peggy Conlon, President and CEO, the Ad Council. “We hope Americans who are struggling will be empowered by these compelling PSAs and take simple actions to help them stay in their homes.”
The Ad Council will distribute the new PSAs to more than 33,000 media outlets nationwide. The campaign includes television, radio, print, out of home and Web advertising. The PSAs will air in advertising space donated by the media.
The Making Home Affordable Program was launched in February 2009 to help homeowners who are at risk of foreclosure through no fault of their own make their monthly mortgage payments more affordable. Since then, more than 1.5 million homeowners have been offered help under the program, and almost 1.3 million homeowners have started a trial plan. Homeowners in permanent modifications under the program have a median monthly savings of over $500 each month or about one-third of their previous payment.
Any homeowner who is struggling with their mortgage is encouraged to visit MakingHomeAffordable.gov or call 1-888-995-HOPE (4673) to learn about options they may have and to speak with a HUD-approved housing counselor for free.